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The UK economy has had zero growth for the last 6 months. The growth in the last quarter of 0.5% combined with -0.5% for the previous quarter was disappointing. It looks like contractionary fiscal policy actually does work to contract growth. The government has depended upon a boost in confidence to spur growth. Apparently, the confidence fairy is on holiday. Some may like the government's austerity policy but their confidence does not seem to matter much.
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